Fashion company Shein is seeking Beijing's nod to go public in the U.S., two sources with knowledge of the matter said, a decision which could delay its float plans and comes despite efforts to distance itself from China. The Singapore-based company, valued at $66 billion in a May fundraising according to one of the sources, filed with the Chinese regulator in November to comply with new listing rules for local firms, two sources with knowledge of the matter said. Shein's listing plans are likely not only to face tougher-than-expected scrutiny from U.S. regulators in an election year in the U.S., the sources said, but will also have to go through a lengthy approval process with numerous Chinese regulators.
More than 100 University of Fort Hare students who have not been able to get their certificates on account of owing money are over the moon after their debts were cleared by the university’s alumni chapter executive. Several of the elated 130 former students said they lacked words to thank the alumni for clearing their debts.
China's securities regulator is allowing mutual fund managers to sell more shares than they buy each day, three sources said, removing a ban introduced late last year aimed at propping up a flagging stock market. The China Securities Regulatory Commission (CSRC) late last year barred major mutual fund companies from selling shares on a net basis on any day, answering top leadership calls to stabilise a market that was among the world's worst performers. CSRC didn't immediately respond to a request for comment.